If anyone is still arguing whether ‘globalization’ is happening or not, then it is like “arguing against the laws of gravity” (adopted from Annan cited in ThinkExist.com). First of all, ‘globalization’ is not a new phenomenon because it existed long time ago when countries traded with each others centuries ago. And if it is not new, then, let’s think for a moment what is new […]

In the sphere of communication and culture, globalisation can appear as a form of access to foreign data or the capacity of individuals living in previously isolated nations to convey to the outside societies efficiently; so the world turns out to be smaller and brings people closer than before (Tomlinson, 1997). Time and space matter less as individuals communicate through trade, Internet discussions and different […]

Globalization and the Asian Financial Crisis The Asian financial crisis is a prime example of an economic meltdown and it exemplifies the effects globalization has during times of widespread economic downturn. According to the Oxford English Dictionary, globalization is “the integration of national economies into the international economy through trade, foreign direct investment (FDI), capital flows, migration and the spread of technology. ” The global […]